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Gaming Innovation Group reports Q4 2020

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Gaming Innovation Group Inc. (GiG) reports Q4 2020 revenues of €17.3 million and an EBITDA of €4.1 million.

Richard Brown, CEO of GiG comments: “2020 has seen some significant milestones accomplished in GiG’s journey to become a leading B2B platform and media supplier in the iGaming industry and the fourth quarter continued to demonstrate the results of actions taken through the year by delivering yearly growth in normalised revenues and EBITDA  by 19% and 212% respectively”.

Financial Highlights

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  • Revenues in Q4 2020 were €17.3m (10.4), up 66% from Q4 2019, all organic growth
  • Normalised revenues were €14.2m (10.2), an increase of 38%
  • EBITDA in Q4 2020 was €4.1m (0.1), up 4431%, normalised EBITDA margin increased to 29.2% (0.9%)
  • For the full year 2020, normalised revenues was €52.2m (43.8) a 19% increase from 2019, with an EBITDA of €10.7m (3.4) a 212% increase from 2019
  • Revenues in Media Services improved to €9.0m (7.5) in Q4 2020, an increase of 20%,with an EBITDA of €4.3m (4.0)
  • Normalised revenues for Platform Services were €4.9m (4.2), up 19%, with a positive EBITDA of €0.2m (-1.4)
  • EBITDA for Sports Betting Services was €-0.3m (-1.8) an improvement of €1.5m, driven by a 78% reduction in operating expenses
  • To further expedite revenue generating activities, enhance future growth and strengthen the cash position, a €8.5m subordinated convertible loan was issued in December

Operational Highlights

  • The sales pipeline developed positively, and four new agreements were signed for Platform Services in the fourth quarter, adding to a total of 14 in 2020, whereof 4 is casino and sportsbook and 10 casino only
  • GiG’s platform went live with two clients in the fourth quarter, and the integration pipeline included 14 brands as of year end 2020
  • The strategic decision to remove the white-label business entered final phases and was a driver in the flat revenue QoQ but improved the EBITDA margin
  • Media Services experienced positive developments in the quarter, finishing off the year with all-time high revenues in December. Player intake was strong, with FTDs up 36% YoY and 9% QoQ
  • Sports Betting Services restructuring completed, placing Sports Betting Services in a sustainable position for growth and strategic partnerships
  • Restructuring completed with comparable operating expenses reduced by 25% YoY, the Company now have a sound cost base for operational improvement going forward

Events after Q4

  • Signed a long-term platform agreement with Playstar to support their entry into the expanding US iGaming market
  • Signed a LOI with an established German facing iGaming operator, for the provision of  platform technologies to power their new online casino.
  • Awarded ISO 27001:2021 certification for its frontend development solution and content management system
  • GiG Media delivered another all-time high in revenues in January corresponding with another all-time-high in FTD’s referred
  • One brand went live so far in 2021, with two additional expected in Q1-2021
  • January has developed positively and normalised revenues are up 40% compared to the same period last year

Investor presentation and webcast

CEO Richard Brown will present the Q4 2020 results today via livestream at 11:00 CET. The presentation will be followed by a Q&A-session, and investors, analysts and journalists are welcome to participate. The presentation will be given in English.

Link to the livestream:
https://www.redeye.se/events/803325/live-q-gaming-innovation-group-feb-23rd

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BGaming donates to Brazilian art institute in support of creative children’s projects

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Popular iGaming content provider BGaming has bolstered its ongoing commitment to grassroots arts by making donations to the A7MA Galeria Institute in Sao Paulo, Brazil, which supports children’s creative development.

As part of its ‘When Art Meets Gaming’ project, BGaming has collaborated with several local artists to create murals for industry events over the last year. For SiGMA Americas in April, the studio also chose to give back to the host city by funding art projects for children.

BGaming made a donation to support three charity initiatives. A portion was donated to coordinate a visit to the A7MA Gallery, where children from the Felicidarte Project took a tour of popular tourist attraction ‘Batman’s Alley’ and learnt about the art. Later, A7MA funded an activity where children were invited to transform the facades of their homes into colourful murals.

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Another part of the donation was allocated to renovations for Felicidarte Project’s warehouse space, to revamp the area so it can invite school groups each week and distribute food to the underprivileged areas.

The significant charitable push follows a successful SiGMA Americas in Sao Paulo from 23rd to 26th April, where BGaming collaborated with artistic duo, Clandestinos Art, to reinterpret BGaming’s iconic game heroes, and create a limited edition merchandise collection, branded gifts and their stand design.

Marina Ostrovtsova, CEO at BGaming, said: “At BGaming, it brings us so much joy to see our donations promoting art among the young people of Sao Paulo.

“As we have proven over the past year with our ‘Art Meets Gaming’ project, creativity unites us all and we were delighted to hear how much the children enjoyed the activities provided. We can’t wait to hear about these budding artist’s creations in the future.”

Marcos Ramos Enivo, Artist and Counsellor at A7MA Galeria Institute, said: “We are grateful to BGaming for their support of our work at A7MA. The activities exceeded our expectations, with 47 artists present and 46 facades revitalised by the children.

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“It was an absolute success. People in the favelas who are sometimes invisible to the government can now feel seen, recognised and valued.”

 

BGaming is a fast-growing iGaming content provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 1,100+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 150+ products with HD graphics and a clear user interface for every device. The studio is also known for its brand exclusives created in partnerships with leading operators in the industry.

The post BGaming donates to Brazilian art institute in support of creative children’s projects appeared first on European Gaming Industry News.

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Revolut unveiled as presenting partner for the BLAST Premier Spring Final at London’s OVO Arena Wembley

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Esport entertainment company BLAST has revealed the global financial technology company Revolut as presenting partner for the BLAST Premier Spring Final, ahead of Counter-Strike’s long-awaited return to the United Kingdom in the summer.

The partnership with BLAST is Revolut’s first foray into esports – an industry known for its next-level global entertainment and world-class experiences. It is part of the fintech’s strategy to provide unique experiences to a global audience of tech-savvy gamers.

With more than 40 million customers worldwide in 38 countries, Revolut’s popular online banking platform aims to revolutionise the way people spend, send, save and interact with money.

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Revolut comes on board as the Official Finance and Payments Partner of the BLAST Premier Spring Final, which is due to take place at London’s OVO Arena Wembley from 12-16 June. Revolut will feature heavily across the event, with both digital broadcast integration across BLAST.tv, Twitch and YouTube, with dedicated Revolut broadcast segments and physical branding and activations at the arena.

The Spring Final 2024 will be the biggest Counter-Strike event to take place in the United Kingdom since the London Major 2018, which took place in the OVO Arena Wembley and saw Danish organisation Astralis crowned champions.

Fans online will enjoy an economy focussed broadcast segment as well as a bespoke giveaway with fantastic prizes. Revolut will be kicking off the Spring Final action with an opening party on Friday, 14th June. A Revolut booth on-site will allow fans to sign up to exclusive discounts for Revolut customers and exclusive perks including queue skip for meet and greets with professional esports players.

Alexander Lewin, SVP, Commercial Revenue at BLAST said: “We’re thrilled to mark the historic return of CS arena events to the UK with a groundbreaking presenting partnership. Revolut has been at the forefront of digital banking and financial innovation for nearly a decade, and shares BLAST’s dedication to creating fantastic experiences for fans and customers. As presenting partner, Revolut will feature prominently across our entire broadcast and arena experience, and we look forward to incorporating their innovative digital-first approach. This partnership is testament to the value esports can bring to a leading global brand, and we are delighted Revolut has chosen BLAST for their first entry into competitive gaming.”

Deborah Wajsbrot, Head of Growth – Strategic Partnerships & Sponsorships at Revolut, said: “We’re delighted to be able to unveil Revolut’s marketing partnership with BLAST – our first in esports. BLAST is a world-class esports tournament and an iconic event for the gaming community. Just like Revolut, the gaming industry is at the forefront of innovation worldwide. This partnership is the beginning of our efforts to bring unique and unforgettable experiences to Revolut customers and gaming fans – not just at Wembley, but worldwide.”

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The BLAST Premier Spring Final gets underway on Wednesday, 12th June, with eight of Counter-Strike’s best teams descending on the UK’s capital to battle for a total prize pool of $425,000. The winning team will qualify for the BLAST Premier World Final later this year.

Participating teams: Astralis, FaZe Clan, G2 Esports, Natus Vincere, SAW, Virtus.pro, Team Spirit and Team Vitality.

The post Revolut unveiled as presenting partner for the BLAST Premier Spring Final at London’s OVO Arena Wembley appeared first on European Gaming Industry News.

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Golden Whale forms strategic sales partnership with SCCG management

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Golden Whale Productions, the pioneering data science company that specialises in AI and machine learning-powered solutions for the iGaming industry, has announced that it has formed a new strategic partnership with advisory firm, SCCG Management.

While the industry expertise brought by the firm will undoubtedly bring myriad benefits to Golden Whale’s operations, the major goal of the collaboration will be to promote awareness of the company’s products and services across the Americas and beyond over the coming months.

Founded by Stephen A. Crystal – a seasoned veteran in the global gaming industry with over 30 years of experience under his belt – SCCG Management has an established track record of delivering expert solutions for strategic success in areas such as iGaming and casino technology.

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With a global network of clients and offices in Europe, Africa, Asia, South America and Latin America, SCCG is well-known for connecting companies with the right strategic partners for global-scale growth, which is exactly what Golden Whale is looking for as it enters its next phase.

Having already made a major impression across Europe – where its innovative data-driven solutions and pioneering products for the Gaming industry such as Foundation – scalable optimization modules for high-leverage decision making or the iterative machine learning system, LOOPs, have already been short-listed for a number of industry awards – Golden Whale its understandably keen to expand its outreach and the new partnership will give it the foothold to do precisely that.

As such, both parties are looking forward to the collaboration and the business opportunities SCCG will create for Golden Whale in the near future, with the former’s industry know-how and far-reaching network combining with the latter’s trailblazing technology to hopefully great effect.

Eberhard Dürrschmid, Chief Executive Officer at Golden Whale, said: “While Golden Whale has enjoyed an incredible year of growth during which the company quadrupled its revenue without the help of an external investor, our partnership with SCCG is definitely the next big step.

“By teaming up with an industry expert like Stephen, we’ll be able to broaden our horizons, expand our reach and really start pushing our game-changing products across the Americas and beyond. We’re really looking forward to collaboration and are hugely optimistic about the business opportunities it’ll bring as Golden Whale enters the next exciting stage of its evolution.”

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Stephen Crystal, Founder and CEO of SCCG Management, expressed his enthusiasm for the partnership: “Golden Whale Productions brings a wealth of expertise and a proven track record in data science to the gaming industry. By combining their state-of-the-art technology with our global reach and extensive industry relationships, we are well-positioned to deliver unparalleled value to gaming operators worldwide. This partnership will empower companies to maximize their data potential and achieve new levels of success.”

The post Golden Whale forms strategic sales partnership with SCCG management appeared first on European Gaming Industry News.

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